https://www.taxtmi.com/caselaws?id=278873 Where RBI norms govern recognition of income from non-performing assets, interest on such assets is taxable only on actual receipt and not on accrual. The Gujarat HC followed its binding view in similar facts, held that the assessee was bound by RBI guidelines issued under the RBI Act, and accepted the deletion of the addition made for interest accrued on bad and doubtful assets. en-us Mon, 02 Jul 2018 00:00:00 +0530 Sat, 23 Feb 2019 08:47:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=278873 Where RBI norms govern recognition of income from non-performing assets, interest on such assets is taxable only on actual receipt and not on accrual. The Gujarat HC followed its binding view in similar facts, held that the assessee was bound by RBI guidelines issued under the RBI Act, and accepted the deletion of the addition made for interest accrued on bad and doubtful assets. Case-Laws Income Tax Mon, 02 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=278873